Page 86 - RusRPTMar23

share of unfriendly countries in total exports of Russia decreased by 10%, and in imports - by 25% compared to the data in 2021, without providing the figures for 2022. To remind, foreign trade data remain among the partially classified economic indicators in Russia amid the war in Ukraine.
Analysts and think-tanks surveyed by RBC believe that India, Turkey, Hungary and Bulgaria have increased their imports from Russia the most in 2022 (4.4- fold to $32bn, two-fold to $59bn, 2.6-fold to €10.3bn, and 2.2-fold to to €5.7bn, respectively).
China, Russia's largest trading partner, has increased its imports of goods from Russia by 43% to $114bn in 2022, according to the Chinese customs regulator.
The main restructuring of exports from Russia took place in oil and oil products, due to the oil embargo by the EU and G7 price cap, as well as in gas due to the halting of supplies on Nord Stream pipelines, the analysts believe. Both India and China are stepping up purchases of Russian oil for their refineries.
It is believed that Russia has a limited ability to notably increase “friendly” exports further, due to infrastructure constraints, except for the future new gas pipelines to China.
86 RUSSIA Country Report March 2023 www.intellinews.com